CSA Securities

Montreal – The Canadian Securities Administrators (CSA) would like to remind dealers and investors of the inherent risks associated with products linked to cryptocurrencies, including futures contracts. While these contracts may be traded on regulated exchanges and may be cleared by regulated central counterparties, the fact remains that their high level of risk will not be suitable for all types of investors.

"More specifically, the underlying value of these futures contracts is based on trading occurring on markets for cryptocurrencies which are largely unregulated," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "Therefore, there may be some circumstances such as price volatility in the underlying markets, which may lead to consequences such as sudden and significant margin calls in the futures market."

As is the case with every investment, an investor looking to participate in cryptocurrency futures trading should understand all of the risks involved.

The CSA reminds registered dealers and advisers that they must perform their own due diligence on these cryptocurrency-linked products before recommending them to their clients.

The CSA will continue to follow developments surrounding these initiatives. For additional information on the risks of cryptocurrencies, please refer to CSA Staff Notice 46-307 Cryptocurrency Offerings.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

Kimberly Ryan

CSA member name

Point of contact

Phone number

Autorité des marchés financiers 

Sylvain Théberge


Alberta Securities Commission

Hilary McMeekin


British Columbia Securities Commission

Alison Walker 


Financial and Consumer Affairs Authority of Saskatchewan

Shannon McMillan


Financial and Consumer Services Commission, New Brunswick

Marissa Sollows

506-643-7853 This link will open in a new window

Government of Prince Edward Island, Superintendent of Securities

Steve Dowling


Manitoba Securities Commission

Jason (Jay) Booth


Nova Scotia Securities Commission

David Harrisson


Nunavut Securities Office

Jeff Mason


Office of the Superintendent of Securities, Newfoundland and Labrador

Kimberly Ryan

709-729-4909 This link will open in a new window

Office of the Superintendent of Securities, Northwest Territories

Tom Hall


Office of the Yukon Superintendent of Securities

Rhonda Horte


Ontario Securities Commission

Kristen Rose